Yelp Shares Continue Higher Following Earnings

Shares of Yelp (NYSE: YELP) spiked up three percent after-hours following the release of its second quarter earnings report just after Wednesday's closing bell.

"We delivered great results this quarter," said Jeremy Stoppelman, Yelp's chief executive officer. "Our consistent focus and strong execution across all areas of our business have driven our growth quarter after quarter. We also became profitable for the first time as a public company. While this is an important milestone, we still have a large local opportunity a head of us."

Results

• Net revenue: $88.8 million
• EPS $0.04
• Average monthly unique users up 27 percent year-over-year
• Cumulative reviews up 44 percent year-over-year
• Active local business accounts grew 55 percent year-over-year

Estimates

• Net revenue $86.32 million
• EPS -$0.03

Guidance

• Third quarter net revenue $98-99 million
• Full-year net revenue $372-375 million

Yelp closed Wednesday at $75.60; in the after-hours session, it's gained an additional 3.62 percent.